Side-by-Side
For Sale
$290,000
741 Pinewood St, Gardner, KS 66030
Two residential units offer private outdoor space, individual utility meters, and attached garages.
Property Size1,808 SF
Price / SF$160.40
Days on Market42
Property Features for 741 Pinewood St
General Information
Standard status
Active
Size
1,808 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
private fenced backyard
Building Details
Year Built
1998
Listing Agency:
Keller Williams Realty Partners Inc.
(816) 268-4033
Listed By:
Ask Cathy
(816) 268-4033
Source:
Askcathy
Added: Jul 19
Changed: Aug 28
Last Checked: Aug 28 at 12:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Partners Inc.
Investment Insights
Based on property information with market context.
This 1,808-square-foot duplex at 741 and 743 Pinewood St includes two connected residential units, each arranged with two bedrooms, one bathroom, a one-car garage, and a fenced private backyard. Constructed in 1998, the property is being sold together as one asset. The 741 unit has fresh paint and new carpet, while the 743 unit is occupied under a lease running through May 31, 2027.
Separate utility meters serve the two sides, allowing each unit to maintain its own utility account. The property supports either owner occupancy in one unit with the other leased or rental operation of both units. The floor plan reflects 741 Pinewood; 743 is its reverse layout. The property is located in Gardner, Kansas, at the listed Pinewood Street address.
Separate utility meters serve the two sides, allowing each unit to maintain its own utility account. The property supports either owner occupancy in one unit with the other leased or rental operation of both units. The floor plan reflects 741 Pinewood; 743 is its reverse layout. The property is located in Gardner, Kansas, at the listed Pinewood Street address.
Key Highlights
- Two‑unit duplex totaling 1,808 SF
- Each unit has 2 bedrooms, 1 bathroom, a 1‑car garage, and a fenced backyard
- 741 side features fresh paint and new carpet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,375
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,500
$387.5K
Cap Rate 7%
$276,786
$276.8K
Cap Rate 9%
$215,278
$215.3K
Market Conditions
NOI Build-Up for 1,808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$29.3K $16.20/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$27.7K $15.31/SF
− OpEx
−$8.3K −$4.59/SF
NOI
$19.4K $10.72/SF
Area
Johnson County, KS
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$387,500
Cap Rate 7%
$276,786
Cap Rate 9%
$215,278
Alternative Uses
Best Use
Multifamily LT 5
$276.8K
$242.2K – $322.9K
NOI $19,375 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$259.6K
$227.2K – $302.9K
NOI $18,175 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$437.6K
$382.9K – $510.5K
NOI $30,630 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 66030, KS
25,164
Population
9,319
Households
2.7
Avg Household Size
33
Median Age
34%
College-Educated
96%
High-School Grad
46.4 sq mi
ZIP Area
542
Density / Sq Mi
$93,891
Median Household Income
$48,661
Median Earnings
$1,306
Median Rent
$281,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer private outdoor space, individual utility meters, and attached garages.
Where is this duplex located?
The property is located at 741 Pinewood St Gardner, KS.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,808 SF; Each unit has 2 bedrooms, 1 bathroom, a 1‑car garage, and a fenced backyard; 741 side features fresh paint and new carpet
